How do I protect my self when purchasing a real estate property out of the US?
Posted by admin on 23 Nov 2008 1:40 pm. Filed under Small Business.
supermoren02130
Hello, I live in Boston, MA and a friend is selling me a real estate property in Honduras.
The seller says that we don’t need to travel to honduras in order to close the deal.
What is the process and what should I know when purchasing real estate over seas, what is the best way to protect my self, do I need a lawyer?
Hello, I live in Boston, MA and a friend is selling me a real estate property in Honduras.
The seller says that we don’t need to travel to honduras in order to close the deal.
What is the process and what should I know when purchasing real estate over seas, what is the best way to protect my self, do I need a lawyer?
On November 24th, 2008 at 1:03 pm
You don´t need to be in honduras to close the deal. If you already saw the property and and have a title report of the property the you are good to close.
Purchasing process is very similar to the one in the US. But you need a lawyer that is familiar working with international sales.
This is a website with info on the purchasing process in Honduras.
http://www.hondurasreal-estate.com/
You have to look under: Investment Process on the left menu.
Yes! You need a lawyer and you need one that is going to look after your best interest.
Many lawyers in Honduras that can help you with the purchase I recommend: Attorney Kennedy Lane Bodden.
On November 25th, 2008 at 3:25 pm
Make sure you know what you are buying but you can’t protect yourself entirely. Civil unrest or political changes can take your property without paying you anything if they decide to nationalize.
On November 27th, 2008 at 7:03 am
grab ur nuts and hang on, ur goin for a ride. in reality you have very lil protection. youve never laid eyes on the proerty, yet youll lay out $$?? ive got some ocean front property, right outside tuscon, for sale…itll go quick, so make me an offer, ill send pics and referances, youll love the view.